Farage ditches £90bn tax cut pledge to focus on 'fiscal restraint' - report

Reform UK will prioritise spending cuts over borrowing

Sahar Nazir
clock • 2 min read

Reform UK leader Nigel Farage has signalled a major shift in his party's economic approach, abandoning manifesto pledges for £90bn in tax cuts in favour of what he described as a "rigorous and fully costed" plan centred on fiscal restraint, The Times reported.

Farage said Reform would "never borrow to spend" and would only cut taxes after achieving savings in public expenditure. The move marks a departure from the party's 2024 manifesto, which pledged reductions to fuel duty, income, corporation and inheritance taxes. "Reform will never borrow to spend, as Labour and the Tories have done for so long; instead, we will ensure savings are made before implementing tax cuts," Farage told The Times. "At the next election, we will present a rigorous and fully costed manifesto." According to The Times, Farage plans to outline his updated economic s...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Advertising watchdog upholds complaints against whiskey investment business

Advertising watchdog upholds complaints against whiskey investment business

Advertising watchdog upholds complaints against Whiskey & Wealth Club

Sahar Nazir
clock 21 January 2026 • 2 min read
FOS leadership changes show reforms 'are serious'

FOS leadership changes show reforms 'are serious'

2026 will be a ‘year of material change’ at the Ombudsman

Isabel Baxter
clock 21 January 2026 • 3 min read
Private markets growth to have 'profound' impact on client portfolios

Private markets growth to have 'profound' impact on client portfolios

Schroders’ Lowe points to ‘super-cycle’

Isabel Baxter
clock 21 January 2026 • 2 min read